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Canary XRPC ETF posts $26 million in opening volume
The first U.S.-listed spot XRP ETF launched with a surprisingly strong opening: Canary Capital’s XRPC recorded roughly $26 million in trading volume during its first 30 minutes of market activity. That early demand exceeded many analysts’ forecasts and immediately put the new ETF on the radar of crypto and institutional investors.
Analyst reaction and launch-day comparisons
Bloomberg ETF analyst Eric Balchunas noted that XRPC surpassed his $17 million volume estimate in under an hour, suggesting the fund could rival other notable launches this year. While $26 million is modest compared with Bitcoin and Ethereum ETF debuts, it significantly outstrips typical altcoin ETF first-day figures—Litecoin’s spot ETF, for example, traded about $1 million on its opening day.
What the volume says about XRP’s market status
The fast uptake of the Canary XRP ETF lends a degree of legitimization to XRP after years of legal uncertainty. For investors tracking spot XRP ETF inflows, the XRPC debut is an early indicator that demand exists beyond retail traders—potentially attracting allocators who prefer regulated ETF wrappers to direct token custody.
Price action and market context
On the ETF launch day, XRP’s market price briefly climbed to a daily high near $2.52 before settling around $2.36, marking a modest net gain. Broader crypto market sentiment, tempered by macroeconomic headwinds, capped larger upside although the ETF launch provided a clear momentary boost for XRP price and trading interest.
How XRPC stacks up against other spot ETFs
For context, several spot Ethereum ETFs each saw approximately $1 billion in volume on their July 2024 debut, while Bitcoin ETF launches have achieved even larger inflows. Still, among altcoin ETFs, XRPC’s opening pace places it among the stronger starts this year and suggests potential for higher day-one totals.
More spot XRP ETFs are coming
XRPC is just the first of multiple spot XRP ETF launches scheduled for November. Additional issuers—Franklin Templeton, Bitwise, 21Shares, CoinShares, Grayscale, and WisdomTree—are expected to list their own spot XRP ETFs in the coming weeks, which could drive further trading volume, liquidity and institutional attention to the XRP market.
As these ETFs roll out, watch trading volumes, flows, and regulatory developments to gauge whether spot XRP ETFs will sustain interest and how they may influence long-term XRP adoption and price discovery.
Source: crypto
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